Minnesota Timberwolves (Semi)Final Ownership Battle Has Begun

The Minnesota Timberwolves kicked off their regular season a couple of weeks ago. Who ends up as the organization’s owner by season’s end has yet to be determined, however. Alex Rodriguez and Marc Lore are still fully intent on ripping control from the hands of longtime owner Glen Taylor.

Minnesota Timberwolves ownership battle reaching final stages

Monday brought a rainy morning for downtown Minneapolis, and it marked the first in a series of arbitration hearings between the two invested ownership parties for the Minnesota Timberwolves. The next week of hearings is supposed to bring finality to this multi-billion dollar squabble. But there are potential hurdles that have yet to be jumped.

And away we go! Video of Rodriguez, Lore, & Taylor entering the downtown Mpls building for the 1st day of arbitration. The hearing is expected to last most of the week, w/ a decision weeks out. We'll have more throughout the day on this process on @KSTP. #Timberwolves #WolvesBack pic.twitter.com/uqPMx1G3lP

— Darren Wolfson (@DWolfsonKSTP) November 4, 2024

Related: Lore, A-Rod Seem to Have Upper Hand in Upcoming Arbitration Battle for Timberwolves

While the arbitration hearing process is only expected to last a week, a decision is not expected for weeks, likely months. When asked how he felt going into the meeting, Rodriguez simply responded “Go Wolves!” A more based reply would have been “Naz Reid” but I’m not judging.

How does this work and what is next?

Glen Taylor and his wife Becky arrived on site after Lore and Rodriguez. This has become a public back-and-forth for months now. It hasn’t had much of an impact on the court, but it would be great to see the organization move forward. ESPN’s Brian Windhorst outlined what the arbitration hearing means, and what the next steps will be.

“If the arbitrators rule for Taylor, he will be able to end the process. He will have voided the sale and will remain as controlling owner. He has said he won’t put the team up for sale again, but there would be nothing preventing him from doing so.

If the arbitrators rule for Lore and Rodriguez, Taylor would be contractually compelled to sell them the controlling share for the previously agreed on $1.5 billion valuation. However, all team percentage transfers are subject to a vote by the NBA’s owners. Lore and Rodriguez would need 23 of the 30 votes to be approved as new owners. Only then would they get the team.”

Brian Windhorst on the Timberwolves arbitration hearing (ESPN)

The key next step depends on who wins in arbitration. If it’s Taylor, then he keeps the Minnesota Timberwolves. Case closed. If Lore wins, then the 30 NBA owners would vote on whether or not to allow the sale. New majority owners need 23 votes in order for their bid to be accepted.

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The owners vote is still a hurdle that many are skeptical the Lore group can jump over. They are confident, though, which is why they have $950 million in an escrow account, waiting to buy out Taylor’s remaining shares, should they win arbitration and get enough votes.